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Samsung Heavy wins W674.5b order for 2 LNG carriers

By Yonhap

Published : April 3, 2023 - 10:24

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This undated file photo shows a liquefied natural gas carrier built by Samsung Heavy Industries Co. (Yonhap) This undated file photo shows a liquefied natural gas carrier built by Samsung Heavy Industries Co. (Yonhap)

South Korean shipyard Samsung Heavy Industries Co. said Monday it has bagged a 674.5 billion-won ($517 million) order to build two liquefied natural gas carriers for an Asia-Pacific shipper.

Samsung Heavy said in a regulatory filing that it will deliver the vessels to the undisclosed shipping company in stages by November 2026.

So far this year, Samsung Heavy has clinched orders worth some $2.5 billion, or 26 percent of its 2023 target of $9.5 billion. In early January, Samsung Heavy obtained a $1.5 billion order for a floating liquefied natural gas facility.

The shipbuilder registered orders of $12.2 billion and $9.4 billion in 2021 and 2022, respectively, beating its full-year goals for two years on end.

A company official said global demand for LNG carriers will likely remain strong this year, helping the company attain its yearly order goal for the third straight year in 2023.

Samsung Heavy cited a rosy prediction by market tracker Clarkson Research Services Ltd. that orders for 70 new LNG carriers would be placed across the world this year.

Samsung Heavy is the shipbuilding arm of South Korea's top family-controlled conglomerate, Samsung Group, whose marquee unit is Samsung Electronics Co. (Yonhap)